In 1988, the company undertook a massive reorganization in response to rapidly changing business conditions. In particular, this need has arisen due to many technological changes that have taken place at that time. Company name was changed from Western Union Telegraph Co. to Western Union Corp. In 1866, Sibley ordered the engineers to develop a Western Union telegraph system of stock quotes in real time. Thanks to cooperation with Western Union the Associated Press at the end of the XIX century took almost monopolistic position in the U.S. market news. In 1849, Selden and Sibley, the founders of the future Western Union, created the New York State Printing Telegraph Company. Western Union provides consumers and businesses with fast, reliable and convenient ways to send and receive money around the world, to send payments and to purchase money orders. Western Union made so that the time in all of American civil services was the same.